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GBPUSD Long Reversal? 07.02.2023I am using a 3 hour timeframe this time in order to highlight the fact that pair moved significantly low within a very short period of time. However, the important part is that the price move switched the path from being above the MA30 to moving below it. A retracement is expected even if the significant market move downwards took place 3rd Feb. In order for the retracement to take place the resistance level 1.207 must break. Otherwise it might not even take place at all. The Fibonacci tool in this chart is not entirely the correct one to use. As per the indication, The retracement would be at least at the 61.8% level, at 1.2105. Looking at the H4 timeframe, the Fibo levels signal that retracement might even reach to 1.215. The absence of important news and figure releases might help this retracement/reversal.
Long
by Stuart_Cowell
2
EURUSD Further Decrease? 06.02.2023Market Updates: The market has been crazy over the last few days because of the important figure releases. Especially for the Non-Farm Employment Change 517K positive change, which was way more than the expected. There is no signal of a retracement because the market seems to show signals of a further down move. It is start of the week and we are not expecting high volatility, however further move due to this shock is more logicaI. The support level has broken and the next is near 1.07530.
Short
by Stuart_Cowell
2
EURUSD Retracement? 03.02.2023 Market News Yesterday: Important to note that the major drivers of the markets these days are the important figure releases, the economic indicators. At 14:00 BOE Monetary Policy Report and the Official Bank Rate pushed the GBPUSD and EURUSD downwards, over 100 pips. Today we see both of those pairs to slowdown. This might be an opportunity for going long catching the retracement. However, important to note that the NF Unemployment Change for the USA might get in the way of this plan. Previous figures show positive changes in favor of the USD, thus going long before the release is very risky: Jan 6, 2023 223K Dec 2, 2022 263K Nov 4, 2022 261K Oct 7, 2022 263K Sep 2, 2022 315K Technicals: As always, if the shock stops at 1.089 then the arrow shows where the market will at least retrace, to the 61% of the move, at around 1.095.
Long
by Stuart_Cowell
3
USDJPY Triangle Formation? 03.02.2023Market News - The most Important release of the month 15:30 Non-Farm Employment Change and Unemployment Rate Due to the fact that the investors are waiting for the important figures during the afternoon session we do not expect high volatility now. There is a triangle formation for this pair. if it breaks then the market will move in one direction either up or down. Traders have to be careful not to take positions too soon but let the market settle after the announcement. Otherwise the market might show a false break upwards or downwards. Stop levels should be 129.2 for the upwards move. If it is a downward move then should be 128.0.
by Stuart_Cowell
2